The Equity Release Council (the Council) has announced the appointment of Caroline Barr as an Independent Non-Executive Director to support the next stage of its strategic growth.

Caroline has nearly 30 years of experience across financial services and government, including at Lloyds Bank, Deputy Director at HM Treasury, and a member of the Financial Services Consumer Panel. She currently holds non-executive positions as Chair of the British Insurance Brokers’ Association and with BlackRock Life, where she also chairs key industry committees.

Caroline brings extensive expertise in consumer protection, regulatory policy, and financial governance, and will provide independent oversight and strategic guidance to the Council as it continues to promote high standards and consumer confidence in the later life lending market.

Caroline’s appointment reinforces the Council’s mission to build a sustainable and trusted market that delivers real value for consumers and members alike. Her experience will support the Council’s four strategic themes of championing consumer interests, answering society’s challenges, speaking with one voice, and fostering trust to enable growth.

The Council’s purpose is to empower more people over 50 to make informed choices about their property wealth by promoting trusted and transparent products and advice. By setting standards that go above and beyond formal regulation, the Council unites industry, regulators, and policymakers to explore the role of property wealth in later life financial planning. Its logo has become recognised across the industry as a mark of quality, trust, and positive consumer outcomes.

David Burrowes, Council Chair said, “I am delighted to welcome Caroline to the Council’s Board. Her appointment adds additional breadth and independent perspective to our governance at a time when the later life lending market continues to evolve. Caroline’s expertise in consumer protection and regulatory policy will help ensure we maintain our focus on responsible growth, strong standards, and positive outcomes for customers across the sector.”

Caroline Barr, Council INED commented, “I am honoured to join the Equity Release Council at such an important time for the later life lending market. The Council’s commitment to consumer confidence and high professional standards aligns closely with my own values. I look forward to working with the Board and members to build on this strong foundation and help ensure equity release continues to be recognised as a safe, flexible, and trusted option for older homeowners.”

ENDS

About the product: Equity release allows older people to access the wealth in their homes, without necessarily having to sell or move. Lifetime mortgages make up more than 99% of the market. They enable people to borrow against their homes without making repayments unless they choose to. The loan and interest, or part thereof, is paid when the customer dies or goes into long term care. Since 1991, more than 950,000 homeowners have accessed £50bn of property wealth via Council members to support their finances.

About the Council: The Council is the representative trade body for the UK equity release market with around 800 member firms and 1,845 individual members. Plans that meet the Council’s standards come with six product safeguards: no negative equity guarantee; fixed or capped rates for life; secure tenure for life; the right to port; the right to make overpayments and no early repayment charge if you move into care provided a medical certificate is provided. In the UK, these safeguards are underpinned by mandatory independent legal advice, which ensures the customer understands the risks and implications of the plan.

More information: Visit www.equityreleasecouncil.com; email [email protected]